North pole of earth has South Pole polarity so North Pole on hand compass is attracted northward direction towards earth's south pole polarity.
Send DC power through 1 lb. coil of bell wire in round coil over one of the horseshoe legs and tap horseshoe lightly with a hammer to help align molecules in the metal.
After the magnet is magnetized do check for proper polarity with working hand compass. Opposite poles will attract and like poles will repel when brought close together,
If poles are opposite polarity to what is stamped on horseshoe, flip coil 180 degrees and magnetize again.